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The national name of the state of Qatar is Nat Qatar (pronounced KAH-ter) or Dawlat Qatar.
If you are a native resident of Qatar, or if you have a job in Qatar, you ought to know that Qatar is an absolute monarchy; it is now governed by the Emir, Sheik Hamad bin Khalifa al-Thani since 1995; and its Prime Minister is Sheik Hamad bin Jassem al Thani since 2007.
Qatar was governed by the sheikhs of Bahrain, but in 1867, war arose between the residents and their absentee rulers. Muhammad ibn Thani al-Thani, head of a leading Qatari family, was assigned by the British as the region’s ruler in order to keep the peace in the Persian Gulf. In 1916, Qatar became a British protectorate.
Oil was discovered in the 1940s, bringing prosperity to the country in the 1950s and 1960s.
Qatar is the home of Al Jazeera, the vastly popular and controversial Arabic satellite television network.
Qatar’s first constitution was introduced on June 9, 2005, having a 45-seat parliament.
Since the ruling of his Highness the Amir, Shaikh Hamad Bin Khalifa Al-Thani in 1995, the State of Qatar adopted different approaches to the political, media, economic, social and information levels. As a result of these practices, the country has showed in the past years major economical transformations, specifically in the oil, gas and petrochemicals industry.
Foreign trade has a high impact on the Economy of Qatar in which export revenues are considered the main source of financing public expenditure and development in Qatar. On the other hand the only way to obtain many kinds of commodities is through import. In 1994, Qatar acceded to “The General Agreement on Tariffs and Trade” (GATT) which is now known as the World Trade Organization.
In November 2001, Qatar held the Fourth Ministerial Conference of the World Trade Organization, one of the most important events, after having successfully hosted “The Islamic Summit” in 2000. This phenomenon brought focus of economic and social quarters worldwide, both in the industrial and developing countries. This conference was a starting point towards deepening and expanding international cooperation worldwide.
The State of Qatar is a committee member of the World Trade Organization (WTO) as well as many other global financing institutions. It does not charge any taxes on individual income or fees on exports, but fees on imports do apply (but at a quite low rate of 4%). Qatar is also very well known for its banking sector, as it does not put restrictions on transferring capitals abroad, the thing that classifies the country as a free trade zone allowing investors to make more money!